Heritage Cannabis Holdings Corp. today announced that its subsidiary Voyage Cannabis Corp. has initiated the development of full spectrum cannabis vape cartridges for Sugarbud Craft Growers Corp. under the terms of the previously announced agreement for contract manufacturing services.
Heritage Cannabis Holdings Corp. (CSE:CANN) (CNSX:CANN.CN) (OTC:HERTF) (“Heritage” or the “Company”), today announced that its subsidiary Voyage Cannabis Corp. (“Voyage”) has initiated the development of full spectrum cannabis vape cartridges for Sugarbud Craft Growers Corp. (TSXV:SUGR) (“Sugarbud”) under the terms of the previously announced agreement for contract manufacturing services. The input biomass used in extraction and production will be high quality cannabis grown and supplied by Sugarbud
“We are very pleased to be working with Sugarbud on the production of full spectrum vape cartridge products to support their cannabis 2.0 strategy,” commented Clint Sharples, CEO of Heritage. “As Sugarbud’s manufacturing partner, Heritage will produce a unique full spectrum cannabis oil product using no harmful additives, flavours or carrier oils. As we continue the launch of our own products the contract manufacturing business remains an important part of our strategy and future revenue stream.”
“As we prepare to launch our cannabis 2.0 products, it was important for us to select a manufacturing partner with a track record of producing products with consistency in the strain profile between the cannabis input material and the oil being produced,” stated John Kondrosky, CEO of Sugarbud. “We chose Heritage for this reason and for their ability to produce high-demand full spectrum cannabis oil products using no harmful additives, flavours or carrier oils.”
Voyage will produce these vape cartridges for Sugarbud, with all formulation, preparation and packaging procedures performed in compliance with applicable regulations. Sugarbud intends to bring these vape cartridges to market in Q4 2020.
About Heritage Cannabis Holdings Corp.
Heritage Cannabis Holdings Corp. is a vertically integrated cannabis company that owns two Health Canada approved licenced producers, Voyage Cannabis Corp. and CannaCure Corp., both of which also have industrial hemp licenses. Additionally, Voyage recently received its sales license from Health Canada, and the Company will be launching its own products in the BC, AB, and MB markets in July 2020, with other provinces to follow. Working under its licenses, Heritage has two additional subsidiaries, Purefarma Solutions, that provides extraction services, and a Medical Services Division which is focused on cannabis based medical solutions. Heritage as the parent company, provides the synergies and resources for its subsidiaries to advance their medical and adult use products and services both domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.
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This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, assumptions related to cash flow and capital resources, and expectations related to the supply and manufacturing agreements, the intended expansion of the Company, and partnerships and Joint Venture Partnerships.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.
An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading “Risks and Uncertainties” Factors” in the Company’s annual management discussion and analysis for the year ended October 31, 2019 and dated February 28, 2020, as well as the interim management discussion and analysis for the quarter ended April 30, 2018 and dated June 29, 2020. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward-looking information and statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.
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